Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
• # Axis Credit Card Interest Rates

Axis Bank is among the top banks in the country offering a wide range of products to its customers all over the country. Among the top products offered by the bank, credit cards are among the most popular.

Along with a wide range of features and benefits which an Axis Bank Credit Card comes with, it also comes with an interest rate added to the credit amount due if not paid within the due date.

## What Is Axis Bank Credit Card Interest Rate?

Popular Bank's Credit Card Interest Rates

An interest rate is a fee charged by your credit card provider on the amount you borrowed using your card. However, you will be charged an interest rate only if you havenâ€™t paid the total outstanding bill amount within the due date or the interest-free period, whichever is applicable. Currently, Axis Bank charges an interest rate of up to 3.6% per month which is 52.86% per annum.

However, if you clear the total outstanding balance within the due date, you do not have to pay an additional fee. That is the best thing about credit cards. But, if you are someone who cannot pay the total amount within the due date, it is very important for you to know about the interest rate and how it is calculated.

## How Are Credit Card Interest Rates Calculated by Axis Bank?

• It is important to know what the Annual Percentage Rate (APR) is before understanding the calculation of interest rate. APR is a rate that your credit card provider charges you annually on the balance amount on your card.
• However, in reality, banks charge a monthly interest rate on the balance due amount on a daily basis. You can calculate your Daily Periodic Rate by taking the Annual Percentage Rate and dividing it by the number of days in the year.

For example: If the monthly interest rate charged by your credit card provider is 13%, the formula used to calculate the interest rate you land up paying on an average daily balance method is as follows:

Interest Rate = [(Total Outstanding Amount x 13% per month x 12 months) X number of days] / 365 days.

## Interest Rate Charged on Axis Bank Credit Cards

Axis Bank Credit Card Variant Overdue Interest on Extended Credit Interest on Cash Advances
Monthly Rate of Interest Annual Rate of Interest Monthly Rate of Interest Annual Rate of Interest
Burgundy Private Credit Card 1.5% per month 19.56% per annum 1.5% per month 19.56% per annum
Pride Platinum Credit Card 2.95% per month 41.75% per annum 2.95% per month 41.75% per annum
Pride Signature Credit Card 2.95% per month 41.75% per annum 2.95% per month 41.75% per annum
Privilege Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Select Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Axis Bank Atlas Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Miles & More Axis Bank World Select Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Miles & More Axis Bank World Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
My Zone Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
My Choice Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
My Wings Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Axis Bank Vistara Signature Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Axis Bank Vistara Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Platinum Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Titanium Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Neo Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Axis Bank Buzz Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Visa Gold Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Visa Silver Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Indian Oil Axis Bank Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Axis Bank Vistara Infinite Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Aura Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
LIC Credit Cards 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Rewards Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
KWIK Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Reserve Credit Card 3.0% per month 42.58% per annum 3.0% per month 42.58% per annum
Magnus Credit Card 3.0% per month 42.58% per annum 3.0% per month 42.58% per annum
Flipkart Axis Bank Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Flipkart Axis Bank Super Elite Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Axis Bank Freecharge Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Axis Bank Freecharge Plus Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Ace Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Airtel Axis Bank Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Spicejet Axis Bank Voyage Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Spicejet Axis Bank Voyage Black Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Samsung Axis Bank Signature Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Samsung Axis Bank Infinite Credit Card 3.6% per month 52.86% per annum 3.6% per month 52.86% per annum
Secured Gold Credit Card 3.4% per month 49.36% per annum 3.4% per month 49.36% per annum
Secured Silver Credit Card 3.4% per month 49.36% per annum 3.4% per month 49.36% per annum
Platinum Secured Credit Card 3.4% per month 49.36% per annum 3.4% per month 49.36% per annum
Insta Easy Credit Card 3.4% per month 49.36% per annum 3.4% per month 49.36% per annum
My Zone Easy Credit Card 3.4% per month 49.36% per annum 3.4% per month 49.36% per annum
Privilege Easy Credit Card 3.4% per month 49.36% per annum 3.4% per month 49.36% per annum
Axis Bank Flipkart Secured Credit Card 3.4% per month 49.36% per annum 3.4% per month 49.36% per annum
Indian Oil Axis Bank Easy Credit Card 3.4% per month 49.36% per annum 3.4% per month 49.36% per annum

## Which Axis Bank Credit Card Transactions Attract Interest Charges?

Apart from not paying the total due amount within the due date, there are many other activities or transaction on your card that attracts interest rates. Some of them are as follows:

• When you choose to pay the minimum due amount and carry a part of the total outstanding amount into the next billing cycle.
• When you donâ€™t pay the minimum due amount within the due date, late fees and other charges will be levied.
• When you use your credit card to withdraw cash. Cash advances are expensive but when you use this benefit when you are aboard, a high cash advance fee will be charged.
• When you use your credit card in an international location, additional charges will be levied.

## Axis Bank Credit Card Interest-free Period

Axis Bank offers an interest-free period that ranges from 20 to 50 days depending on the date of the transaction. This feature is applicable only if your previous monthâ€™s balance is paid in full. If you make the total outstanding balance within the interest-free period, you will not be charged anything additional. Which means that you have enjoyed the credit facility at a 0% rate.

Example for grace period:

Let us assume that the payment due date is on 2 July 2023, and if the previous month's dues have been paid in full-

Interest-free period for a purchase on 16 May 2023 is 16 May 2023 to 2 July 2023: 47 days.

For a purchase on 15 June 2023, the interest-free period is 15 June 2023 to 2 July 2023 = 17 days.

If only a part of the payment has been made, there will be no interest-free period and interest charges applicable.

### FAQs on Axis Bank Credit Card Interest Rates

1. Is the interest rate applied to the total due amount from the start of the billing period or from the transaction date?

If you have not paid the total due amount within your due date, the interest rate will be charged on the total due amount from the transaction date till all the previous balance is paid in full.

2. How is the interest rate charged on cash advances?

On all cash advances, Axis Bank charges the monthly interest rate from the date of withdrawal till the amount is paid in full. Please refer to the table above to know the monthly interest rate on your Axis Bank credit card.

3. What happens If I have a high credit card bill due to a high interest rate and I'm unable to pay it?

If you default on your credit card payments, Axis Bank will get in touch with you and remind you to make your payment. If you aren't able to pay the minimum due amount, your credit card will be blocked. Axis Bank has the right to report you to the Credit Information bureaus which will negatively affect your credit score.

4. How do I contact Axis Bank credit card customer service department if I have questions?

You can reach the Axis Bank credit card customer service department by dialling 1800 209 5577 or 1800 103 5577. These numbers are accessible from any landline or mobile phone in India. You can dial +91 - 22-27648000 if you are calling from outside India. Alternatively, you can write to premium.cards@axisbank.com or visit https://application.axisbank.com/webforms/axis-support/index.aspx for more assistance.

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